Oppenheimer & Co. Inc. trimmed its holdings in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Free Report) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,542 shares of the communications equipment provider's stock after selling 431,314 shares during the period. Oppenheimer & Co. Inc.'s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 102,448 shares of the communications equipment provider's stock valued at $632,000 after purchasing an additional 1,777 shares during the period. Profund Advisors LLC lifted its stake in Telefonaktiebolaget LM Ericsson (publ) by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 62,838 shares of the communications equipment provider's stock worth $388,000 after purchasing an additional 1,823 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 16.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,133 shares of the communications equipment provider's stock valued at $87,000 after purchasing an additional 2,024 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 37.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,029 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 2,458 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 131.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,464 shares of the communications equipment provider's stock valued at $34,000 after purchasing an additional 3,101 shares in the last quarter. Institutional investors own 7.99% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on ERIC shares. JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.90 to $6.70 and gave the company a "neutral" rating in a research note on Monday, October 21st. StockNews.com upgraded Telefonaktiebolaget LM Ericsson (publ) from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.70.
Get Our Latest Stock Report on Telefonaktiebolaget LM Ericsson (publ)
Telefonaktiebolaget LM Ericsson (publ) Price Performance
ERIC traded down $0.03 during trading on Friday, reaching $7.97. The stock had a trading volume of 19,803,191 shares, compared to its average volume of 16,713,443. The business has a 50-day moving average of $7.89 and a 200-day moving average of $6.89. Telefonaktiebolaget LM Ericsson has a one year low of $4.77 and a one year high of $8.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a market cap of $26.56 billion, a PE ratio of -265.67 and a beta of 0.81.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The communications equipment provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.73 billion. Telefonaktiebolaget LM Ericsson (publ) had a positive return on equity of 13.31% and a negative net margin of 0.47%. As a group, equities research analysts anticipate that Telefonaktiebolaget LM Ericsson will post 0.44 EPS for the current fiscal year.
Telefonaktiebolaget LM Ericsson (publ) Profile
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Free Report)
Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.
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